Presbyopia Market Overview

The global Presbyopia market is estimated to be worth over USD 16.68 Bn in 2033 and is expected to grow at CAGR of 4.9% during the forecast period (2024-2033).

Presbyopia, a prevalent age-associated vision condition, manifests as the gradual loss of near vision, generally beginning around the age of 40. It occurs owing to the natural aging process, where the lens of the eye loses its flexibility, making it difficult to emphasize on close-up objects. As a consequence, individuals witnesscomplexities with tasks such as threading needles, reading small print, or utilizing digital devices at close range. Symptoms are likely tocomprise headaches, eyestrain, and holding reading material at arm's length to see more clearly.

The global market for presbyopia treatments is experiencing steady growth driven by several factors. Firstly, the aging population worldwide contributes substantially to the growing prevalence of presbyopia, thereby diversifying the potential market size. In addition, the growing awareness about eye health and the prominence of vision correction among the aging demographic further accelerates demand for effective treatment alternatives.

The market provides a scale of solutions to address presbyopia, comprising prescription eyeglasses, contact lenses, and surgical interventions. Conventional bifocals and reading glasses remain famous choices for many individuals, providing a straightforward and affordable means of correcting near vision. Nonetheless, innovations in technology have paved its way to the development of multifocal and accommodating intraocular lenses, offering more sophisticated alternatives for those seeking surgical correction.

Minimally invasive surgical procedures such as monovision LASIK (where one eye is corrected for near vision and the other for distance vision) or lens replacement surgeries offer alternatives for patients looking for long-term solutions with mitigated dependence on glasses or contacts.

The presbyopia market is not without difficulties, comprising regulatory hurdles, reimbursement issues, and the increased cost related to advanced treatments. However, continuing research and development efforts focused at enhancing treatment efficacy, safety, and affordability are estimated to drive market expansion in the coming years.

Thus with geriatric global population and soaring demand for effective vision correction solutions, the presbyopia market stands ready for sustained growth, propelled by technological advancements and evolving consumer preferences.

Figure 1. Presbyopia: Market Size

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Key Market Insights &Current Market Landscape:

The global presbyopia market is experiencingsignificant growth, fueled by a geriatric population and growing awareness of vision correction alternatives. Conventional solutions like prescription eyeglasses and reading glasses remain prevalent, but innovations in technology have encouraged the development of novel treatments. Multifocal and accommodating intraocular lenses provide more sophisticated surgical alternatives, offering patients with enhanced near vision while mitigating dependence on glasses or contacts.

Minimally invasive procedures such as monovision LASIK and lens replacement surgeries have gained prominence and huge traction for their efficiency and long-term advantages. In addition, the market outlook is evolving with the emergence of innovative technologies, comprising extended depth of focus (EDOF) lenses and corneal inlays, offering alternative solutions for presbyopia management. Regulatory approvals and reimbursement mechanisms play critical roles in market penetration, while ongoing research and development efforts continue to drive innovation and expand treatment options. With a growing emphasis on improving quality of life for aging populations across the globe, the presbyopia market is poised for further expansion in the forthcoming years.

Market Dynamics

Market Drivers

Growing Number of Geriatric Population

As individuals age, they are more possibilities to develop presbyopia, a natural age-associated condition that affects near vision. With the worldwide population aging at a rapid pace, specifically in developed countries and increasingly in emerging economies, the prevalence of presbyopia is on the surge. According to the World Health Organization (WHO), In 2019, the number of people aged 60 years and older was 1 billion. This number will increase to 1.4 billion by 2030 and 2.1 billion by 2050. This demographic move creates a larger pool of potential patients seeking vision correction solutions, thusdiversifying the market for presbyopia treatments. In addition to that, as people live longer and remain active later in life, there is a growing demand for effective and convenient solutions to maintain visual acuity and quality of life. This demographic trend not only accelerates the demand for conventional corrective measures like prescription eyeglasses and reading glasses but also encourages innovation in surgical interventions and advanced technologies such as multifocal intraocular lenses and minimally invasive procedures like monovision LASIK. Therefore, the increasing number of elderly individuals globally presents significant growth opportunities for the presbyopia market, fueling investment in research, development, and market expansion strategies by market players.

Market Restraints

With regard to numerous advantages of Presbyopia, the market faces several challenges due to the unique characteristics and requirements associated with them. Some of the key market challenges include:

• Regulatory Hurdles: The presbyopia market witnesses challenges associated with regulatory approvals for new technologies and treatments, which can delay product launches and market entry, influencing growth potential.
• High Treatment Costs: The cost related to advanced presbyopia treatments, such as surgical interventions and premium intraocular lenses, can act as a hindrance to adoption, specifically in regions with limited healthcare coverage or lesser disposable incomes, thushindering market growth.

Market Opportunities

Increase in the Number of Research and Development Activities  

With growing demand for more effective and innovative treatments, investment in R&D is crucial for developing new technologies and enhancing existing solutions. Continuing research efforts focus on enhancing treatment safety, efficiency, and patient outcomes, fueling innovation in areas such as advanced intraocular lenses, minimally invasive surgical techniques, and pharmaceutical interventions. In addition, R&D initiatives aim to address unmet needs in presbyopia management, such as reducing dependence on corrective eyewear and providing long-lasting solutions. Collaborations between academic institutions, healthcare organizations, and industry players foster the development of novel approaches and accelerate the translation of scientific discoveries into clinical applications. As a result, advancements in R&D not only diversify the scale of treatment alternatives available to patients but also stimulate market growth by fueling product innovation, differentiation, and market penetration. Ultimately, higher investment in R&D activities contributes to the evolution of the presbyopia market, positioning it for sustained expansion and addressing the evolving needs of aging populations across the world.

Market Trends

• Technological Advancements: The presbyopia market is experiencing a trend towards advanced technologies, comprising multifocal and accommodating intraocular lenses, extended depth of focus (EDOF) lenses, and corneal inlays, providing more sophisticated treatment options for patients seeking presbyopia correction.
• Shift Towards Minimally Invasive Procedures: There is a soaring preference for minimally invasive surgical interventions such as monovision LASIK and lens replacement surgeries among patients, fueled by factors such as faster recovery times, mitigated dependence on glasses or contacts, and enhanced long-term outcomes, influencing the market towards less invasive treatment approaches.

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Presbyopia Market: Key Segments

By Diagnosis

• Eye Exam
• Others

By Symptoms

• Eye Strain
• Headaches
• Fatigue
• Blurred Vision
• Others

By Treatment

• Eyeglasses
• Office Progressives
• Progressive Multifocals
• Bifocals
• Trifocals
• Prescription Reading Glasses
• Contact Lenses
• Modified Monovision
• Monovision Contact Lenses
• Bifocal Contact Lenses
• Refractive Surgery
• Photorefractive Keratectomy (PRK)
• Laser-Assisted Subepithelial Keratectomy (LASEK)
• Laser-Assisted in Situ Keratomileusis (LASIK)
• Conductive Keratoplasty
• Lens Implants
• Others

By End-Users

• Hospitals
• Specialty Clinics
• Homecare
• Others

By Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

By Key Geographical Regions

• North America
• Europe
• Asia-Pacific
• Middle East and Africa
• South America 

Presbyopia Market: Regional Analysis

North America dominates the presbyopia market because of the high prevalence of presbyopia and technological advancement in the treatment in this region. Additionally, rising healthcare expenditure and presence of major key players will further propel the 'market's growth rate in this region.Asia-Pacific are expected to grow during the forecast period due to increasing number of geriatric population in this region. Also, development of healthcare infrastructure and rising government initiatives will further propel the 'market's growth rate in this region.

Figure 4. Presbyopia Market: Distribution by Region

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Leading Presbyopia Developers

Industry Trends and Global Forecasts, 2023-2035 report features an extensive study of the current market landscape, market size and future opportunities associated with the Presbyopiamarket, during the given forecast period. Further, the market report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the biopharmaceutical industry. Key takeaways of the Presbyopiamarket are briefly discussed below. 

The report includes the list of players operating in the global Presbyopiamarket. Some of the key players include: 

• Allergan (Ireland)
• Abbott (US)
• AstraZeneca (UK)
• Alcon Vision LLC (Switzerland)
• Bausch Health Companies Inc. (Canada)
• F. Hoffmann-La Roche Ltd. (Switzerland)
• GlaxoSmithKline plc (UK)
• Johnson & Johnson Private Limited (US)
• Merck & Co., Inc. (US)
• Mylan N.V. (US)
• Novartis AG (Switzerland)
• Orasis Pharmaceuticals, Inc. (US)
• NIDEK CO., LTD. (Japan)
• Pfizer Inc. (US)
• Sun Pharmaceutical Industries Ltd. (India)
• Sanofi (France)
• Teva Pharmaceutical Industries Ltd.(Israel)
• Ziemer Ophthalmic Systems (Switzerland)
• ZEISS International (US)

Recent Developments in the Presbyopia Market

Several recent developments have taken place in the field of Presbyopia, some of which have been outlined below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that we’ve outlined in our analysis chronologically.

• In February 2024, Johnson & Johnson MedTech*, a global leader in eye health, announced that its TECNIS PureSee purely refractive presbyopia-correcting lens is now available in EMEA. The TECNIS PureSee IOL features a proprietary, purely refractive design that delivers uninterrupted, high-quality, vision with high best-in-category contrast and low-light performance, comparable to a monofocal IOL

Scope of the Report

The market report presents an in-depth analysis of the various firms / organizations that are engaged in this market, across different segments, as defined in the below table: